AgriInnovate Program
Highlights
This program is designed for businesses like yours in the agricultural and agri-food sector. It offers up to $5,000,000 in repayable contributions to help you commercialize, demonstrate, or adopt innovative technologies and processes. This funding can significantly boost your competitiveness and sustainability.
Key Benefits:
- Substantial Funding: Up to $5,000,000 available.
- Cost-Sharing Advantage: The program covers 60% of project costs, with an additional 10% for businesses owned or led by under-represented groups.
- Flexible Repayment: Contributions are repayable, with potential conditional repayability for small enterprises and start-ups.
Why Apply?
- Enhance Competitiveness: Implement cutting-edge technologies to stay ahead.
- Sustainability: Adopt processes that benefit both your business and the environment.
- Support for Innovation: Access financial support tailored to innovative projects.
Qualifying for this program is straightforward, and the benefits can provide a significant boost to your business's growth and sustainability.
Financing Details
Type of Financing: Repayable Contribution
Repayment Terms:
- Repayment is generally unconditional.
- Conditional repayability may be available for small enterprises, start-ups, and emerging innovators to help mitigate risks.
Eligible Expenses:
- Commercial-ready innovative technologies.
- Processes that enhance agricultural and agri-food sector competitiveness.
- Projects that demonstrate sustainability benefits.
Ineligible Expenses:
- In-kind contributions.
- Non-cash contributions.
Fees:
- No specific fees are mentioned for participation in the program.
Qualifications
- Must be a for-profit business.
- Must be involved in the agricultural and agri-food sector.
- Must be working on projects that involve commercialization, demonstration, or adoption of innovative technologies and processes.
- Must be able to provide cash contributions for the cost-share portion (40%).
Projects must be completed by March 31, 2028.
Disqualifications:
- In-kind contributions are ineligible.
Description
This program offers your business a chance to receive up to $5,000,000 in funding. This money can help you bring new technologies and processes to market, making your business more competitive and sustainable.
You can use the funds for:
- Commercializing new products
- Demonstrating innovative technologies
- Adopting new processes
The funding is provided on a cost-sharing basis, where 60% is covered by the program and 40% by you. If your business is owned or led by under-represented groups, you might get an additional 10% on the cost-share ratio.
The contributions are repayable, but the program may offer flexible repayment options for small businesses, start-ups, and emerging innovators. This can help reduce the risk associated with bringing significant innovations to market.
Program Steps
Gather Necessary Documentation: Prepare the following documents to complete your application:
- Business plan
- Financial statements (last two years)
- Project proposal detailing the innovative technology or process
- Budget and cost estimates
- Proof of cash contributions
Register Online: Create an account on the program's application portal.
Complete the Application Form: Fill out the online application form with accurate and detailed information about your business and project.
Upload Required Documents: Submit the prepared documentation through the online portal.
Review and Submit: Double-check all information and documents for accuracy. Submit your application through the portal.
Follow Up: Monitor your email for any follow-up requests or additional information needed from the program administrators.
Await Approval: Wait for the program administrators to review your application and notify you of the decision.